The NBS Head Office Building was built from 1888 – 1890, on the basis of blueprints designed by Konstantin Jovanovic (Vienna 1849 – Zurich 1923), son to distinguished artist Anastas Jovanovic...
07/06/2022
The NBS expects from banks in Serbia to pursue a sustainable and responsible business policy, which implies an upgrade of deposit activities and maintenance and enlargement of the depositor and client base, and to assess the justifiability of increasing the prices of some fees and services.
Having analysed the increased profitability of the Serbian banking sector compared to the same period last year, the NBS has ascertained that profit at the sector level increased based on fees and commissions, and most notably in relation to the provision of payment services.
Under the Law on Payment Services, a payment service provider must inform users about the fees charged in a clear, understandable and transparent way. Although the manner of attracting and retaining clients falls under banks’ business policies, from the aspect of preservation of financial stability, we wish to emphasize that sometimes ostensibly short-term profit can negatively impact bank’s operation in terms of a long-term reduction in the client base.
Acting within its remit, the NBS will, as so far, adopt regulations and supervise the solvency and legality of operation of banks and other payment service providers. It will supervise whether banks adhere to the provisions of contracts concluded with clients, among other, and whether they operate in line with valid regulations, business policies, internal rules and procedures, which must be aligned with regulations in force. Responsible for maintaining and strengthening financial stability, the NBS will not allow that the achieved financial stability be undermined in any way and that the savings system be jeopardised.
Aware of the importance of this issue for citizens, as of March 2019 the NBS has been publishing on its website an overview of fees charged by payment service providers for the services they render. It is possible to compare the level of fees for most frequently used services linked to a payment account with different providers. More information about fees charged is contained in the fee tariff of payment service providers.
By implementing its regulatory activities, the NBS seeks to increase the mobility of clients so that they can easily switch banks. Users can simply change a bank by going to another bank and requesting the services of payment account switching, as well as refinancing of all obligations in the previous bank. The new bank where a client opens his/her account must undertake all activities to close the account and all obligations in the previous bank. The NBS will continue to simplify the bank switching procedure and encourage and promote client mobility.
Governor’s Office
